Public rental housing "funds barbell" Who held? Security is arduous, a huge gap between supply and demand, capital precipitated a lot of money - who will raise public rental housing "funds barbell?" Ministry of Finance has three departments jointly issued a document, allowing the land transfer net resources for development through multiple channels such as public rental housing. But the Audit Commission released a 17 investigation has shown: according to the specified number of cities from Net income in full and on time land low-rent housing guarantee fund extraction. This low-rent housing, rent to the public? This is the task of building affordable housing projects the most onerous of the year. The industry suggested that public rental are high hopes for construction funds to solve its problems, one practical responsibility to make all levels of government, the policy implementation Line into practice. The second is to innovative forms of financing, the formation of a sustainable mode of operation. CD in this way can speed up the security room to make up for this "short board." Funds for construction of public rental Xintian "Fountainhead" Public rental housing is central to further clarify this year's affordable housing one of the development. Building housing the Ministry of seven departments in the first half has also developed a "speed up the development of public rental housing guidance." This year The central several times to speed up the development of public rental housing, and building affordable housing projects. There are also significant progress around the building. For example, Chongqing has 12 million square meters construction of public rental, the first quarter of next year, completed and delivered. In the next three years, the city will start the construction of 30 million square meters of public rental. Shanghai's first public rental projects started at the end of September, upon completion, will provide 4,000 sets of public rental. According to plan, Shanghai will build in the next 5 years, including public rental housing, including 100 million units of various types. However, with different low-rent housing, mainly for the urban lower-middle income families (some cities have housing difficulties for people in rural areas) and greater demand for public rental, land, capital and other requirements are also higher. Three departments in the recently issued a notice in the clear, from 2010 onwards, the year around to ensure complete protection of low-rent housing under the premise of the task can be the existing arrangements for net income from land transfer not less than 10% of the low-rent housing Security funds, co-ordination for the development of public rental housing, including the purchase, construction, reconstruction, lease of public rental housing, loans, interest subsidies, rent of public rental housing to low-rent housing guarantee payment of rental subsidies for families. At the same time, in accordance with the relevant provisions of the housing fund provision of value-added receipts less risk reserve housing provident fund loans, housing provident fund management center management fee, as the construction of low-rent housing supplementary funding. From 2010, low-cost housing throughout the year in the completion of tasks under the premise of security, you can return the Housing Provident Fund in the provision of low-rent housing guarantee fund, co-ordination for the development of public rental housing. "Previously, the land transfer revenue and value-added income housing fund for low-cost housing is provided for the construction of further coverage of the catholic rent, rental building that is expected to provide a more substantial public financial support." Complex Housing Policy Research Center, Fudan University Executive Master Ren Chenjie said. "Good policy" to "True to force"? Policy has been introduced, how effective? This is a concern about the construction of public rental are very concerned about. China announced in 2007, "low-rent housing guarantee fund management approach" to clear that land used for housing security net capital ratio of not less than 10%. But the Audit Commission issued 17 "in 19 provinces City from 2007 to 2009 audit of government investment in affordable housing survey results "show, Beijing, Chongqing and other cities in 22 net income from land transfer funds to extract the proportion of low-rent housing guarantee does not meet the requirements of 10%. 2007 To 2009, the city extracted a total of 14.623 billion yuan less. The main reasons: First, some economically developed cities in the larger land base net income, prior year's low-rent housing guarantee fund extraction coupled with other channels Funds have been raised to meet the needs of a given period of low-cost housing security, and thus reduce their own extraction ratio; Second, some cities on the land transfer has not yet made accurate accounting of net income, resulting in not to mention provide low-cost or less to live Housing security funds. In 2007, the State Council issued "the State Council on solving the housing difficulties of urban low-income families a number of opinions", the amount of affordable housing investment is growing, annual growth rate of 15% or more. But with other residential Investment projects, compared to its capital investment the Government obviously inadequate. China Index Research Institute survey data show that in 1998 -2009, affordable residential housing investment accounted for a total investment rose from 13.0% down To 4.4%. The industry proposed that the rent for the public policy of opening up sources of funds, implementation may be due at least two "weaknesses" leaving effect discount. One provision in the relevant parts of the premise, "may" (not "must be ") To net income and land value-added income housing fund for public rental housing construction, which allows the provisions of the lack of rigid constraint. Second, land does not mean that the land transfer net income, but which is deducted from the cost of demolition and related infrastructure costs. How many of these costs, is almost mystery, rarely disclosed. Even Local governments have claimed that the cost is too high, land on low income, or even a loss, a difficult discrimination in the true and false. In this case, the so-called "net land" is likely to be a nobody knows for sure, can reach "10%" very difficult to effectively monitor the request; more Needless to say, land transfer revenues to make up as much as seven or eight local government fiscal deficit, which this very difficult to let go. Solve the urgent problems of public rental money, "Government Accountability in place" and "innovative financing" National expenditures in 2009 balance sheet shows that in 2009 the national fiscal expenditure used for affordable housing 72.597 billion yuan, 313.3% for the previous year; in which the central government invested 55.056 billion yuan, local government investment only Income 17.541 billion yuan. Obviously, the protection of housing construction local enthusiasm was not high. The notice requirements of three departments: "localities should earnestly implement the housing projects of various types of funds, protection of the central and provincial subsidies for housing projects subsidized housing subsidies, as well as city, county, or division, Farms subsidized housing funds overall arrangement, as soon as possible to the protection of housing projects and meet the conditions for protection of the family housing project, to ensure that funds are not implemented not because of, not in place and the impact of various types of subsidized housing workers Way construction progress. " Housing Policy Research Center, Fudan University, Executive Director Ren Chenjie that housing security policies are being put in place, to make the capital investment is not discounted, the key is to increase the rigidity of binding and the actual execution. China refers to the Sheng Chen, vice president of several studies that, from the change in mode of development, fiscal and taxation system reform, strengthen supervision, such as full start, to ensure protection of public rental housing construction funds and other real investment, a significant increase in land supply. Industry Also suggested that the government fulfill its responsibility under the premise of innovation and the construction of public rental and operating mechanism. The circular clearly states: "all over the discount can be taken, to support the market actors and social institutions from the commercial bank financing for the development of public rental housing. Arranged by the Government at all levels of public rental housing funds, including Central subsidy of public rental housing funds can be used for public rental housing projects discount loans. " Shanghai housing security and the Housing Authority official says Shanghai will explore innovative financing mechanisms for the public to rent, rent to encourage financial institutions to grant long-term public loans to support eligible enterprises through the medium and long Way of bonds to raise funds to explore the use of insurance funds, trust funds and real estate investment trusts, to expand the financing channels for public rental.

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